India takes time for decision on Cairn Energy's Vedanta deal

India is again delaying a decision on whether to allow British explorer Cairn Energy sell a majority stake in its unit in the country to Vedanta Resources.

Oil minister Murli Deora today said the government would look to decide by March, the end of India's financial year.

"We have to move with caution. There are too many complications. We will decide by the end of this financial year," he said.

Cairn agreed in August to sell a stake of 40-51% in Cairn India to Vedanta in a deal worth up to $9.6 billion (£6.1 million).

S Sundareshan, the top bureaucrat in India's oil ministry, said last month that the government would make its decision before the end of February.

Cairn has applied to the oil ministry for transferring Cairn India's majority stakes in 10 oil and gas block to Vedanta.